Privacy Policy
Your privacy and your family's financial data security are our top priorities.
Last Updated: January 6, 2025 | Version 1.0
Introduction
At Fundorah, we understand that trust is the foundation of family financial planning. This Privacy Policy explains how we collect, use, protect, and handle your personal information when you use our family investment platform.
We are committed to protecting your privacy and maintaining transparency about our data practices, especially when handling sensitive financial information for your family's future.
Information We Collect
Account Information
- • Name, email address, and contact information
- • Child's information (name, date of birth) for custodial account setup
- • Identity verification documents (for regulatory compliance)
- • Investment preferences and financial goals
Financial Information
- • Bank account and credit card information (processed securely through Plaid)
- • Transaction data for round-up calculations and cashback investments
- • Investment account details and portfolio performance
- • Family contribution and gifting information
Usage Information
- • App usage patterns and feature preferences
- • Device information and technical logs
- • Customer support interactions
How We Use Your Information
Core Services
- • Process automated investments and round-ups
- • Manage custodial investment accounts
- • Calculate cashback investments
- • Enable family gifting features
Platform Improvement
- • Enhance user experience and features
- • Provide customer support
- • Send important account notifications
- • Ensure regulatory compliance
Data Sharing & Third Parties
We work only with trusted, regulated financial partners who meet our strict security standards:
Plaid (Banking Integration)
Securely connects your accounts for transaction monitoring and cashback detection. Data is encrypted and processed according to banking industry standards.
DriveWealth (Investment Platform)
Manages custodial investment accounts and executes trades. All accounts are FDIC-insured and regulated under applicable securities laws.
Legal Requirements
We may disclose information when required by law, court order, or to protect our legal rights and the safety of our users.
Data Security
Your family's financial security is paramount. We implement industry-leading security measures:
- 256-bit encryption for all data transmission
- Secure cloud storage with redundancy
- Regular security audits and monitoring
- Multi-factor authentication
- SOC 2 Type II compliance
- Limited access on need-to-know basis
Data Retention & Deletion Policy
This policy outlines how Fundorah manages the retention and deletion of user data in compliance with applicable data privacy laws, including the General Data Protection Regulation (GDPR) and California Consumer Privacy Act (CCPA).
Data Retention Standards
| Data Type | Retention Period | Rationale |
|---|---|---|
| Account & profile data | Until user deletes account | Retained for account functionality |
| Financial integration data (Plaid) | Until user revokes access or deletes account | Used to provide core app functionality |
| Logs & analytics data | 90 days | Used for monitoring and debugging only |
| Customer support messages | 12 months | For resolving user issues and audits |
We only retain data as long as necessary for delivering services, complying with legal obligations, or resolving disputes.
Data Deletion Process
Users may request deletion of their data at any time by:
- • Using the in-app account deletion feature (available in settings)
- • Emailing [email protected] with the subject "Data Deletion Request"
Once a request is verified:
- • All associated user records are flagged for deletion
- • Data is purged from primary storage systems (Convex) within 14 days
- • Backups are deleted on their next rotation, within 30 days
- • Third-party partner data (Plaid, DriveWealth) is deleted according to their respective policies
Your Privacy Rights
Depending on your location, you may have the following rights regarding your personal information:
Access & Portability
- • Request a copy of your data
- • Export your account information
- • Review data processing activities
Control & Deletion
- • Correct inaccurate information
- • Request data deletion
- • Withdraw consent for processing
To exercise these rights, contact us at [email protected] with "Privacy Rights Request" in the subject line.
Children's Privacy
Fundorah is designed specifically for families to build their children's financial future. We collect minimal information about children only as necessary to:
- • Create and manage custodial investment accounts (UTMA/UGMA)
- • Comply with financial regulations
- • Provide age-appropriate financial education content
Parents have full control over their child's account and can request deletion of all child-related data at any time. We never collect information directly from children under 13 without verified parental consent.
Note: When children reach the age of majority (18 or 21, depending on state), they gain full control over their investment account and associated data.
Policy Updates
We may update this Privacy Policy to reflect changes in our services, technology, or legal requirements. We will notify you of significant changes by:
- • Email notification to your registered address
- • In-app notification when you next log in
- • Updating the "Last Updated" date at the top of this policy
Continued use of our services after policy updates constitutes acceptance of the revised terms.
Contact Us
If you have questions about this Privacy Policy or how we handle your data, we're here to help:
Email: [email protected]
General Support: [email protected]
Response Time: We typically respond within 24-48 hours